I guess I might need your explanation in the interest part, I did try the demo for oanda and still cant figure out what is the interest about.

This is what in my mind : Plz do correct me if I'm wrong

There is 2 interest in the oanda trading account.
1st interest type is calculate based on your equity you have, then you get interest every day. (Juz like saving acc)

2nd interest type is for every trade you do, you get interest, the longer you did, the more interest you have. (But I dont understand why there is this interest, what is it for)

oh.. okay i'll explain the second interest...
lets say u trade the GJ pair... GBP = 5% interest... JPY = 0.5% interest rate

if u LONG gbp.. meaning u hold gbp at 5% interest compared to JPY = 0.5% interest rate... u earn 4.5% interest per year (if u hold it a year) but the interest is calculated in seconds.. so if u buy now and sell of in 1 minute.. u still get interest..

That's because of the high volatility of the market. Now the VIX is at 39+, and yesterday it was 48+. No one wants to take excessive risk and hence the poor liquidity in the FOREX market.

Thanks kelvin, I understood already, it is much similiar to the SWAP rate in mostly mt4 broker.

@adam
Ya, very boring the market, the uncertainty making traders/investors no dare to put money in. Rather to hold the money on hand.

Edit:
news not yet out, but the Eur already down non stop? For wat reason. Loooking

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Added on October 1, 2008, 7:57 pmWow. it is too faz. The consolidation part broken. But not dare to take in any trade le, NFP still there waiting.....

80pips movement in a 2min

This post has been edited by mphpopular: Oct 1 2008, 07:59 PM


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Senate is going to pass the bill, but by how much? IF less than 80 senators pass the bill, forget it....the stock market will tank another 700.

cutting IR is not holy solution for everything

good luck longing euro....i m not seeing euro going up to 1.45

OF course it's not. It's just a psychological short term solution. The underlying fundamentals is a mess.

I hate to trade nearby the news. On hold with EU short. SL adjusted to +1.
Will close the trade as soon as posible, moz importantly closed 3min b4 NFP.

Dangerous stuff coming out. Wear spec first, Zoom in ZOom in ZOOM IN, see properly what happen.....

This post has been edited by mphpopular: Oct 1 2008, 08:14 PM

@adam..
care to elaborate abit on the 80 senator pass the bill? wats the minimum required to pass the bill?

OMG, wasted my pips.

I closed my EU short 3min b4 news come out. Now opened a short again.

Syok man... Although miss out some pips in middle, but still able to take the ride.

This post has been edited by mphpopular: Oct 1 2008, 08:30 PM

The numbers reflects the bipartisanship in which the bill is needed to pass in the House; and if the number is less than convincing, the bailout bill might not pass.

There are 100 in the Senate.

what time is the bill scheduled for voting?

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Added on October 1, 2008, 8:32 pmmanaged to scalp a bit ...earned 10 pips..

This post has been edited by kelvin_tan: Oct 1 2008, 08:32 PM

Tonight.

oh.. so its not totally up to the senate whether the bill passes or not? hmm .. anyway any of u know the exact time the bill is being set for voting ?

It will be live on CNBC website. Its about early morning our time

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Added on October 1, 2008, 8:35 pmIn order for the bailout bill to pass, the House and the Senate must have enough majority vote before Bush can sign it.



This post has been edited by AdamG1981: Oct 1 2008, 08:35 PM

hmm okay.. thanks.. so it wont be so early .. but then the market now is like genting's casino !!

Lesson 1: Never trust politicians.

GJ move downward so ganas. CLosed out for 40pips too early... Its ok, always another day to go.

i need someone to slap me for not holding my shorts......

!!!!!

Haha, I can come slap you and slap myself as well.
Let me tell you what I've done.

I short it EU since 1.4078 from today morning. Holding and holding. But 2min before news come out, I closed it wif +1 at 1.4077.

Then after news come out, I short again 1.4048. But due to tight SL, the trade closed at +1 again.

BUt then I open 2 short again at 1.4026 and 1.4035. And this time not so easy to ask me close it again.

EDIT:
GJ lagi teruk, short at 188.66, I use the expert advisor (EA) to closed 0.01lot at 188.26. But mana tau, it closed all my position at there. Siao eh. If not, now I already laughing but not typing here.

Guess everyone will have this kind of experience. THis is so called "anxiety", we keep on worry the trades and so on and that y we always closed it earlier. Now I act abit pandai, I place my trade, set all stuff on, then I go see my anime "bleach". Easy, win then win, lose then lose, I must learn to trust my self.

This post has been edited by mphpopular: Oct 1 2008, 09:19 PM